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Rivian, the electric vehicle maker backed by Amazon and Ford, is making its Wall Street debut on Wednesday, surrounded by mania that befits a market that appears to be defying gravity.

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That was the take from Ian Shepherdson, chief economist at Pantheon Macroeconomics, after seeing the data on US retail sales for August.

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Since 2020, investors have been rallying behind shares of Pfizer and Germany's BioNTech, two companies that were poised to play a crucial role in helping bring an end to a devastating pandemic. Those bets have paid off.

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ESG investing — funds that are conscious of companies' actions on the environment, society and governance — is an increasingly popular trend for people concerned about how their money is being used. It sounds great, but it's complicated.